Skip to main content

tv   FOX Business After the Bell  FOX Business  September 17, 2012 4:00pm-5:00pm EDT

4:00 pm
hitting another all-time high but just closing just shy of $700 today, nicole. just pennies shy from 700. >> exciting again. [closing bell ringing] iphone 5 sales have been record-breaking. sandra: nicole, thank you so much. the bells are ringing on wall street. look how the stocks are finishing up. the dow down about 38 points at 13,554. the s&p down 4 1/2 and nasdaq and tech stocks faring probably the best on the session, down five. russell took loss of five 1/2 points as well, david. david: everything that goes up eventually comes down. there is a lot of news affecting your money. a member of the libyan oil family says americans need to look past the middle east. he says the country is ripe for investment.
4:01 pm
david: we have a lot more coming up. we'll tell you what drove the markets. stocks breaking a four session winning streak with all major indices ending in the red. crude oil tumbled in the last hour of trading amid talks of a oil reserve release. crude fell $2.38 to settle at $96.62 a barrel. the white house has said that the administration is not taking oil reserves off the table now and that all options are actually on the table. and treasurys saw a pop today after a survey showed manufacturing activity in the new york area shrunk tremendously. again this month, a 10-year yield fell four basis points, ending at 1.84%. sandra: we've got lots of action at the cme group. michael muccio naming stocks he likes now.
4:02 pm
and joe meninbo says there is one currency he is watching particularly. marco, at the cme group in chicago. mark, this oil trade has everybody buzzing. was it just the markets working itself out? a lot of nervous longs in the oil market right now nearing $100 a barrel or do you think it was something else? >> well, anytime you've got kind of a lot of risk premium into oil you're going to see oil have these types of selloffs when rumors of stratfwik oil reserve coming out happen. that's what happened this afternoon. if you look at where demand probably is for crude, i don't think it is much above 90. i would probably put it closer to 85 bucks a barrel. anytime you get this much risk premium built in these type of rumors will really send oil falling. david: mark, what about qe? let's go back to the fed for a moment here. we're still trying to figure out how that will affect the market long-term. is qe going to do anything
4:03 pm
other than weaken the dollar more? >> no. i like it at, from the very first "batman" when the joker is down the street in the parade throwing money left and right. david: oh, yeah. >> after everybody gets free money that is when the poison gas drops. i'm just worried --. david: hold on a second. are you saying we're due for some poison gas here? >> i think today is kind of an interesting day. we lucked out that the corn price, we got a bart simpson selloff. we were expecting an f and we got a d minus. so the corn and soy sold off pretty aggressively. if we get corn, oil and soy selling off with qe, well then you might get the effect we're expecting. however i think that all of these are a great opportunity to step in and wait for an opportunity to step in and buy some of these commodity prices because i do think that qe is going to run up commodities. while you'll get a rally in the equity markets i'm just not sure how long term that
4:04 pm
helps this economy. everybody is worried about this fiscal cliff. until you saw that, i don't think any of these economic numbers get much better. sandra: mark, if you were listening i would think you sound pretty bearish especially with your "batman" analogy. however i'm looking at the forecast for s&p 500 at year-end you are calling for 1500. >> absolutely. i'm, bullish in the near term because i think qe does run up stock prices. but, you know, i think that 2013 is going to be a slow year for the s&ps. i think we'll make a run at 15 probably into the fiscal cliff which i think really is what is going to the one real chink i see in the road. we could see the fiscal cliff cause the same type of problems we saw august 2011. and that really is what scares me. yeah, i think that qe does its job which is run up equity price, run up commodity prices and kill the dollar.
4:05 pm
sandra: mark ses bastion, say own the stocks or at least until the end of the year, david and then be worried. thanks, mark. david: a lot of people worried. let's bring in our panel. joining us is michael musio and joe menimbo, senior market analyst at western union business solutions. mike, i want to go to you first. we had a run-up since the first of the year. we had a lot of bumps in the road but 16% is huge. when the market looks to be taking a pause is now the time to take some of the profits off the table? to sell off and take your profits and wait for another downturn before buying in again? >> sure. for investors that we work with, most of these are retired folks, or folks nearing retirement and sitting in cash or any kind of long term isn't really an option for more than 8 t0 10% of the portfolio. so we wouldn't be large buyers here across the board but in specific sectors and
4:06 pm
for our income oriented clients we're buying stock every day, though, to your point from a valuation standpoint things are not as cheap as they were just a month and a half ago. and we're actually to the upper end of our range in terms of the market. so we'll be tuned in here to see what happens with the next earnings season through the third quarter. but, i do think there is a lot of truth behind the fed action and, that causing, kind of risk assets, commodity stocks, to continue to rise a bit. we can't lose sight of the fiscal cliff. that is a serious problem for the markets. and for investors there is not lot of alternatives. sandra: you're not specifically looking at stock market you're looking at currency market. you think there are strong plays there based on all this? >> that's right. the single currency has
4:07 pm
moved back in the driver's seat and currency markets we've seen the euro rise to four-month heights. we have seen the single currency rebound 9% from these late july lows. actually touched its lowest level a couple months ago in two years. so, thanks to some of this decisive action we've seen by central banks not only in the eurozone but by the fed that helped breathe new life into riskier assets such as the euro. ed. german voters announced by a factor of two to three going back to the german deutsche mark, for getting rid of the euro. how much long every can the ecb and miss merkel and all the other bigwigs who think they know how to run a currency, how much longer can they keep voters at bay? it is still a democracy. what 2/3 of germ man voters
4:08 pm
prefer going back to the deutsche mark, i'm wondering what the future of the euro is and maybe it is time to short isn't. >> exactly. those questions still linger. on one hand we had a string of positives from central banks but the political issue, that is one that remains a daunting challenge for the single currency. going forward, in order for the single currency to hang onto the gains we'll want to see a continued persistent positive news. without that, that suggest as lot of negatives doing the single currency for months could return to the surface. for long we could see renewed pressure from the euro. sandra: mike, do you have specific ways that you recommend playing this market right now based on the possible volatility, moving ahead with the u.s. currency. that could affect earnings going forward? do you recommend being defensive here? what stocks should we be looking at? >> we're generally a little bit more defensive by nature than kind of a growth only type of manager.
4:09 pm
dividend yield is one thing we look at in terms of the cash flow of companies. when you look at companies. doesn't really matter where in the cycle you are. if you're looking at cash flow and return on equity, to shareholders, that will lead you to right now, we think, kind of blue chip, you know, large cap, mainly domestic companies. so a company like a lowe's, which is in remains in kind of an unfavored industry of housing, is bottoming a bit. lowers has and we think will continue to raise their dividend. and it is paying about a market dividend right now. in the energy sector we like chevron which i just saw earlier was hitting new highs today. as far as the integrated oil companies go, we think they are about best of the breed right now and they're investing quite a bit for the future we think will provide stability to the cash flow. david: unilever is another one of your picks.
4:10 pm
we have to move on, we have breaking news. michael and joe. thank you very much. breaking news to robert gray. go ahead, robert. >> david it involves ford and the canadian auto workers. media reports indicating a 4-year deal reached between the ford and uaw meeting objectives according to reports of both the union and ford. no change in the pension plan for active members. no changes in eligibility to the pension plan. this looks like it will avert a shutdown that would have happened tonight at 11:59 p.m. local time. the caw president said they were not able to get cost of living for retirees and pay raises increase for the life of the agreement. they will. david they're committing to new products at oakville, ontario, plant in 201. creating 600 new jobs averting a shutdown that would have happened tonight. back to you. david: robert, thank you very much. new anti-american protests
4:11 pm
spreading all over the middle east. we have a member of the libyan royal family to make his case why american investors should still look to libya for business opportunities. that is tough sell. sandra: oil analyst andy lipow will tell us why the number one driver for oil is not the middle east in his opinion. he will tell you what it is. david: wonder what it is. protests in china causing some big problems for multinational companies. details straight ahead on "after the bell." [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission?
4:12 pm
you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. less expensive option than a traditional lawyer? at legalzoom you get personalized services for youfamily and your business that's 100% guaranteed. so go to today for personalized, affordable legal protection. has oats that can help lower cholesterol? and it tastes good? sure does!
4:13 pm
wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy.
4:14 pm
david: s&p futures closing right now. let's go back to the cme group in chicago with mark sebastian. what are you seeing, mark? >> mostly unchanged. i'll tell you with empire manufacturing as bad as it was this morning we'll have a tough time selling off unless we get really bad news this week. expect kind after slow one. it was a slow day today. we have the jewish high holidays. don't expect may major volume but look higher for the rest of the week. david: watch out for oil,
4:15 pm
folks. there is something going on there. sandy will get into in a minute. sandra: yeah. shares of office depot insurgencying today. let's head back to nicole petallides on the floor of the new york stock exchange. >> we saw office depot shares jumping. people wondered why. a hedge fund is interested in your company and you get a nice top. that is exactly what happened with office depot. starboard confirming they have a 13.3% stake in office depot. that helps the stock to move higher today. of course we watched the office companies, staples, officemax and office depot, we watched them very closely especially during a tough economy. david: nicole petallides, thanks very much. sandy, over to you. sandra: crude oil taking a plunge in late-day trading after hitting 100 dal a barrel last week. prices dropped it nearly $5 in a few minutes of trading to below $95 a barrel.
4:16 pm
perfect guy to join us today. andy lipow of lipow oil associates. thanks for joining us, andy. >> thanks for having me. sandra: can you explain what happened today? >> i think the market sentiment is changing. when you look around there was a lot of euphoria last week in qe3. the fed going with these unlimited mortgage back securities purchases. driving dollar weaker and commodities higher. people look around say, well will it really make a difference as far as redan? when you look into the middle east and protests and violence against america, it will not impact the flow of crude oil out of there. the market thinking, supply remains the same, demand will be an issue, maybe we got overenthusiastic. sandra: andy, i want to get a couple things for viewers that actually saw this happening today. it was a very sharp selloff in a matter of minutes just before the close of pit
4:17 pm
trading today. we learned this was a coordinated selloff. it wasn't just oil. it was the rest of the energy complex as well. natural gas, heating oil. rbob gasoline took a tumble. cme group in chicago said there were no technical issues involved. that markets performed as designed. you're saying this selloff in the last few minutes of pit trading with a lot of those that piled into the long side of this market got nervous because of all the geopolitical risk, the talk of the white house and spr, et cetera? >> i think so. we've seen this big run-up in crude oil prices over last couple months. people want to either take profit or get out and then, a small selloff generates a bigger one as people try to liquidate all at once, head to the exit doors as they see the market sentiment changing. sandra: so let's look forward. what happens tomorrow, the rest of the week, the rest of the year? when we have this fed policy on the table, what they're willing to stimulate this
4:18 pm
economy until it gets up and going, what does that end up doing long term to this oil market? >> well on a longer term base i expect the oil price would rise because you would see a weaker dollar. and as a result people will pile into commodities. but the other side of me says when i look at demand especially in europe which is declining, i see the after effects of hurricane isaac are over, oil production has returned, gasoline supplies are increasing, i think that is bearish for the market. we already saw $95 earlier today. i think we'll go below that to 93, 92. sandra: that being said everyone at home wonders about their gasoline prices. obviously we're in election year. this is political issue as well. folks around the country are paying well over $4 a gallon for gasoline. a lot of talk about possibly prices are peaking at these recent highs. what do you think? >> well i think prices are peaking or have peaked. in fact we're now making the
4:19 pm
winter grade of gasoline. you will see that distributed throughout the northeast over the next week. prices will be coming down around 15 cents a gallon. i expect the national average to go below $3.70. sandra: andy lipow, lipow associates, thanks for joining us on that issue today. david: new protests all over the middle east and parts of africa following attacks on the u.s. embassy that kid the u.s. ambassador and three other americans. what will this unrest mean for the future of investment of the u.s. into countries like libya and other countries in the middle east? a member of the libyan royal family joining us for his views straight ahead. sandra: stay tuned for that. one ceo is offering his new employees smartphones on one condition. get rid of the blackberry. david would hate to hear that. that story is next.
4:20 pm
4:21 pm
4:22 pm
4:23 pm
sandra: time for a quick speed read of some of the day's other headlines, five stories, one minute. first up ford recalling 5500 encrossovers with two-liter ecoboost engines due to a fire hazard. the recall affects 2012 models. major japanese firms closing factories in china following violence protests over disputed islands in the east china sea. panasonic, honda, cannon, have temporarily suspended plant reduction and urge urged employees to stay
4:24 pm
indoors. the national hockey league officially locked out the players after failing to reach a collective bargaining agreement. this is the fourth shut down in 10 years. apple toppled two million preorders in 24 hours, doubling the record by the iphone 4s last year. iphone 5 will be delivered friday. yahoo! employees ditching blackberries in favor of other smartphones. yahoo! employees will be able to pick from five new phones including iphone 5 and samsung galaxy. that is today's speed read [buzzer] david: perfect timing. it has been three years since the government bailed out the largest automaker. and gm is reportedly saying it wants to buy shares from the u.s. government of the company. sandra: but the u.s. government doesn't want to just yet. fox business's liz macdonald has details. >> that's right, sandra. if they did it down and the president would have to say look, we're posting a loss on gm shares because
4:25 pm
taxpayers still own half a billion shares in gm they're trading now at 24 bucks. you have to be at 53 to break even. so they have been underwater. $27 billion, if they sold now we would be hit with a loss. taxpayers would be hit with a loss depending on dollar amount and size of the shares. shrug of shares anywhere from 15 stal billion in losses to $7 billion depending how much was sold. we talked with general motors. they confirm they are in talks with general motors selling at a loss. here is what general motors are saying to fox business. tarp rules hurt in attracting talent. we're capped at pay we can offer executives. that's why we want out. hard to for someone to show up to work for the good of the country. we want to get out from under it. here is what treasury is also telling fox business. this is assistant treasury secretary i. saying government should not be a long-term investor. government is not a hedge
4:26 pm
fund. we have to marks mize taxpayer returns here. however we did this not to make a profit. we did it to prevent a collapse of the auto industry. we'll sell when we think the time is right. that is the bottom line the bottom line is, we are still owed, taxpayers and viewers are still owed $200 billion roughly from fannie mae, freddie mac, general motors, allied financial. 300 banks owe $9 billion plus. so when you hear, for example, the auto bailouts were a win-win for taxpayers. sandra: right. >> maybe whatever the math is behind the jobs number that the administration comes up with. even the administration said look, we could lose $25 billion just on auto bailouts alone. david: is gm, i'm just trying to get my head around it. is gm saying they can not run a successful company with the government as an albatross around their neck slowing them down? >> effectively yes. their argument is we can't hire talent. we can't use the corporate jet because of tarp rules. confirming all of that.
4:27 pm
tell you something for gm look, take the loss, taxpayers that is pretty something. you will not see the loss anytime soon before the elections. perhaps afterward. sandra: timing interesting following the conventions where they just, were touting the success. >> that's right, sandra, exactly. sandra: liz macdonald. david: thanks, liz. sandra: anti-american protests breaking out across the middle east in africa and europe. we've got someone who says libya is still a good place for american investors. he is a member of the libyan royal family. he is making his case with david next. david: also three funds that could help you make money if the market turns south. kind of safety funds. want to get a pencil and paper ready. that is coming up on "after the bell." click the like button and tell us whether you think the market is going to move to the downside. [ owner ] i need to expand
4:28 pm
4:29 pm
to meet the needs of my growing business. but how am i going to fund it? and i have to find a way to manage my cash flow better. [ female announcer ] our wells fargo bankers are here to listen, offer guidance and provide you with options tailored to your business. we've loaned more money to small businesses than any other bank for ten years running. so come talk to us to see how we can help. wells fargo. together we'll go far.
4:30 pm
♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay ale... but feel alive. the new c class is no exception. it's a mercedes-benz through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services.
4:31 pm
sandra: time for a look at today's "market drivers" after hitting multiyear highs last week stocks closed in the red after a four-day winning streak. financials and the drills were the worst performers with alcoa the worst on the dow. crude ending the day down 2.4% turning sharply lower in the last hour of trading today. last hour of trading today. barrel down $2.38 on the day. grains also tumbling as supplies, back i on the market after that crowd. closing near a two-month low. plunging 4%. david: united states ambassador to the united nations and
4:32 pm
ambassador to libya presented two different views of events that led to the death of our ambassador and three others. take a listen. >> that information is the best assessment we have today in fact this was not a pre-planned, premeditated attack. >> the way they acted, leaves us with no doubt that this is preplanned, predetermined. david: to exactly different answers to that question. it could lead to billions of dollars of investment for libya, something of great interest to our next guest. a member of the libyan royal family joining us now, good to see you again, thank you for coming in. on whose side do you fall on this issue? the president of libya or the u.s. ambassador?
4:33 pm
was it a planned attack or was it spontaneous? >> it was a planned event which was the work of qaddafi supporters. they have no shame in want to disrupt the democratic process in libya that have taken place right now. david: if it was a planned event, and we know that particular consulate was under increased threat over the past week or so, she did not have any greater attempts to guard the consulate before the attacks? >> it goes unreported. they have plotted over the last six months to major terror attacks all the time.
4:34 pm
david: an incident that is taking place right now in the new york city at jfk airport. robert gray has details. >> live pictures at jfk airport outside of new york city. american airlines flight and a jet has been isolated at jfk. officials said a flight out of san francisco's moves to the isolated area following a bomb threat to the port authority federal air marshals are on board the flight. we don't have any further details, but we have said similar incidents reported at other airports. american airlines flight, both isolated on the tarmac at jfk. following a bomb threat phoned into the por port authority, no details available yet. we will follow this obviously and bring you any further details as they develop.
4:35 pm
david: and we will follow this until it is resolved one way or another. until we get new information. they may be able to have that print if you don't mind we will show pictures so far as what we knows what is going on. the government of libya, we heard from the president of libya, who is the government right now, is it an established government and do they have the power or the authority to guard facilities whether it is the u.s. embassy consulate offices or businesses in libya? >> let me address one thing, libya has just elected a prime minister by the people, very able, capable, american educated, phd from the united states. we have a government in place, we thought of taking the
4:36 pm
priority and security. we are working through the work in process come back progress to secure it in place. and it has taken place. libya better than a lot of countries. david: we should say we have a number of companies over there. there has been no slow up of oil despite the events that took place last week, correct? >> correct. libya is one of the hotspots destinations according to world and media reports. we have last year imported $55 billion of oil and according to bloomberg, $121 billion reserve as of august 31. david: i understand a lot of building projects going on in libya as a result of all the oil flowing, simply not going into
4:37 pm
the pockets of qaddafi. what kind of u.s. businesses, european businesses are going to libya right now, what is going into it? these are for libya in a high priority. the government is doing its best to provide security as the government also looking at security from different agencies. the put security in place right now as we speak. it is very unfortunate. we regard the ambassador is one of our own.
4:38 pm
and of course we want to stand out on behalf of them. david: we should mention even though the u.s. administration says it is because of this video, you and the president of libya saying it was in fact a preplanned event. some people say that the eulogy, if you will, given by the head of al qaeda on the day of the attacks in which he mentioned the killing of the second-in-command of al qaeda back in june, that is actually what was behind the attack itself. is that your understanding? >> we have arrested more than 13 people in the last two days, and will be released shortly to the world. i would like to leave that to the government next week, releasing all the details and
4:39 pm
you would be surprised to know. david: final question, some question if they were being led into libya to investigate and to the forensics, the latest on that? >> the fbi is on its way to libya. david: where things are being held up to do the research, do you know the latest on that? >> always understand they're in libya meeting with the government people will share with them later reports. david: prints mahdi al-senussi, member of the libyan royal family, appreciate it. >> thank you for having me. sandra: the market took a fall. the start of the end of the market rally.
4:40 pm
david: the mayor has sought an injunction against the teachers union, we are live at the scene with the very latest. copd makes it hard to breathe,
4:41 pm
but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair.
4:42 pm
if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at >> i am robert gray with your fox business brief period monday trading as future looking at the trace behind the plunge and crude. cme group said no technical training issues. as the spec lays in the government may tap the strategic petroleum reserves. the white house says all options are on the table, but there is nothing to announce. shares of netflix with underperform rating. media companies hold the upper hand and netflix efforts to contribute th movies and shows m them. the cover up of fraud from the
4:43 pm
founder. according to the "wall street journal." he has pleaded guilty to the fraud. the bank denies the claims. that is the latest from the fox business network giving you the power to prosper. [ mujahid ] there was a little bit of trepidation, not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪ these are sandra's "homemade" yummy, scrumptious bars. hmm? i just wanted you to eat more fiber. chewy, oatie, gooeyness... and fraudulence. i'm in deep, babe. you certainly are. [ male announcer ] fiber one.
4:44 pm
less expensive option than a traditional lawyer? at legalzoom you get personalized services for your family and your business that's 100% guaranteed. so go to today for personalized, affordable legal protection. sandra: if you're like millions of other investors, you probably are questioning this recent market rally whether or not it is topping out, even folks making money are not sure how much longer the fed money is printing to overcome the realities of a weaker economy. david: you're going to want to invest sensibly in the mutual funds our next guest says outperform the market if we fall off of this investment cliff we fall off of. we know how worried some people are. you're worried about if it will
4:45 pm
be sustained. start with your first pick, with the utilities would think of gas and electric, but they are broadening the definition of what utilities is right now. >> a lot of people know the etf. it has performed last year, but not done so well the last 12 months. mutual fund up 9% in the last 12 months. part of the reason is they have some fresh telecoms. comcast is a utility. water utilities, but it's become and data utilities. that is why there is a performance because creating the definition of mid-cap, the telecoms. i like the two investments out there.
4:46 pm
sandra: your next pick would be the health sciences fund. why do you think this is a good one? >> generally speaking the demographics, everybody should own it. the boomers are getting older, that is one of the few almost sure thing growth stories we have like apple, i guess. take the growth in the bag, to be very good for your portfolio. the market has kind of had health care always seems to hang tough. they get the maintenance medication is. i like this one a lot because of health care, but it has a beginning stage, biotech's in there as well. as opposed to pick individual stocks and portfolios, you get outside growth. allowing you to get the big bo boys. david: we put it up really fast,
4:47 pm
i'm not sure people saw how fast it has rallied. 33% year to date, way out doing what the s&p has done, doubling the s&p rally which is extraordinary. market fields, this is a tough one for me to understand what is in there and how they decide what goes in. explain this one. >> the flavor for this one is the best defense is a good offense. a macro fund, if you want a simple explanation of what they did, though it lost 13% because they short the bank. they figure out what is going on right now and move your money accordingly. you can have the money management do it for you. right now since transport stocks, that is where they are right now.
4:48 pm
you have to have a lot of faith in the management, they have a reasonably high expense ratio. the performance is they're essentially during the downturn showing when things are getting ugly they can find ways to preserve capital for you like i said down 13% is great for when the rest of the market is down 40% it is a good defensive play. david: thank you, jeff reeves. >> thank you for having me. david: the chicago teachers strike enters its second week with thousands out of school. any sign of a deal on the way? next. sandra: disney's magic kingdom lifting a ban in place for more than 40 years. the story ahead on "after the bell."
4:49 pm
sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea.
4:50 pm
4:51 pm
4:52 pm
david: thousands of students have not been attending classes at chicago public schools. for more than a week now.
4:53 pm
sandra: chicago's mayor rahn emanuel asking a state court to force striking teachers back to work. live in chicago with the latest. >> sandra, dave, the application for an injunction to send the teachers back to work immediately will not be until at least wednesday meeting if mayor rahn emanuel was hoping for a quick resolution to get teachers back in the class while the rest of this deal was hammered out, that is not going to happen at least until wednesday which means the earliest kids can be back in school will be sometime on thursday. in the meantime that particular action seeking that injunction ramped up the hostilities between the union and the mayor's office. response to that act to get the injunction calling mayor rahn emanuel this application a vindictive act. deteriorating with a deal on the table. a deal hammered out in principal
4:54 pm
hammered out on friday. in contract language over the weekend, the house of delegates and representative body of the union to vote on whether or not to end the strike but they need more time to look at this. it may be later in the week. with the action deceit that injunction may have taken a situation and pushed into the minds of folks making this call as to whether or not to discontinue this strike, that may be the thing they remember, the next vote set for tomorrow. sandra: we will be watching it. david: trying to be heard over the protesters, his voice is suffering as a result. let's go back to robert gray. we are resolving the issue at jfk with the american airlines and fin air plane. there have been phone and threats, what is the latest? >> those planes have been cleared. a live picture from jfk at american airlines and fin air
4:55 pm
jet. reports indicate no explosives, no terrorist found on board, and as i mentioned they have been cleared, back to you. sandra: the numbers you can watch to move the market. next. want to try to crack it? yeah, that's the way to do it!
4:56 pm
now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together that's a lot of work getting that one in! let's go see the birdies. [ male announcer ] one on one, sharing what you know. let's do it grandpa. that's why humana agents will sit down with you, to listen and understand what's important to you. it's how we help you choose the right humana medicare plan for you. because when your medicare is taken care of, you can spend more time sharing your passions. wow. [ giggles ] [ male announcer ] with the people who matter most. i love you grandpa! i love you grandma! now you're a real fishman. [ male announcer ] humana.
4:57 pm
4:58 pm
governor of getting it done. you know how to dance... with a deadline. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro.
4:59 pm
david: time to go off the desk. disney's magic kingdom in orlando may start to seem a little more magical. disney is going to start serving alcohol and its new be our guest restaurant when it opens for previews. magic kingdom has not served alcohol and its entire 41 year history. pricking president, although other parks, including epcot, mgm studios and and the studios have served a little wine and beer. sandra: time for the three things to watch tomorrow. jeffrey lacher, charles evans, and william dudley. the key one to watch, he would be sold the center in the fed decision to launch another bond buying program. david: ahead of the bill we will it earnings from the world's number two delivery company. talking about this. fedex, often seen as a barometer for economic activity. analysts expecting earnings per share of


info Stream Only

Uploaded by TV Archive on